Residential development for sale

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Residential development for sale

Grieves Buildings, New Herrington, Houghton Le Spring
£400,000

Price History

Initial price £430,000
05/09/24 £400,000
Price Change -6.98%

Description

This mixed-use building in a thriving urban area offers a unique opportunity for investors and developers. The ground floor features commercial units with flexible spaces suitable for retail, cafes, or small offices, with high foot traffic from both residents and the surrounding community. The upper floors are currently unfinished apartments, providing significant potential for further development, subject to planning regulations. The roof could be converted into additional residential units, adding value to the property. The parking area at the rear of the property also offers scope for expansion or the introduction of additional amenities. With a Council tax band A and freehold basis, this property is a prime candidate for investors looking to capitalize on future development opportunities.